IDTC handles more than 3 million carats of rough diamonds in India

India handles a major chunk of global diamond trade and 70 per cent by value and 80 per cent by volume of global trade is contributed by India.Sutanuka Ghosal | ET Bureau | December 22, 2016, 08:15 IST

India Diamond Trading Centre (IDTC), the only special notified zone (SNZ) in the country has handled more than 3 million carats of rough diamonds in excess of $450 million dollars since it started its operations a year ago.

Spread across 4,095 sq. ft. at the Bharat Diamond Bourse ,the IDTC-SNZ is a fully equipped state-of-the-art viewing facility as per international standards with world class security systems. Major global mining companies like De Beers, Rio Tinto, ALROSA, Dominion Diamond Corporation and Okavango Diamond Company have successfully conducted their rough diamond viewings at IDTC.

Till date IDTC-SNZ has conducted 28 Viewing sessions and over 400 companies from across India participate in these viewing sessions regularly.

India handles a major chunk of global diamond trade and 70 per cent by value and 80 per cent by volume of global trade is contributed by India.

The SNZ was created with an objective of ease of doing business in India, making available regular supply of rough diamonds from the International mining companies and save on time and operational costs of the small and medium diamond manufacturers, omitting the concept of middle-men thereby minimising commissions and eventually the cost.

IDTC-SNZ Chairman and Bharat Diamond Bourse President, Mr. Anoop Mehta said, “The success of IDTC reflects our constant endeavour to give the global mining companies an appropriate platform to display their goods and we are inviting more Diamond Mining companies to come and avail the facility to exhibit their rough diamonds. We urge upon the Indian companies to avail this opportunity that is comparable to any global platform”.

“In fact, over 50% of the 2017 calendar have been booked for viewings, which itself poses as the proven success of IDTC-SNZ” Mr Mehta said.

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